By Ahmed Galal, Mary M. Shirley, World Bank
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Extra info for Does privatization deliver?: highlights from a World Bank conference, Page 93
In most cases, we sold to a strategic buyer. Sixth, state enterprise reform should be only one part of a much wider pattern of structural change. Any comprehensive program of economic restructuring will inevitably create winners and losers. If the program is comprehensive, the losers will generally be those who are receiving existing privilegesand they will lose them permanently. In my view, these people should not generally receive compensation. The people who should receive some compensation are those who really have no ability to do much about the costs of restructuring.
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Comes the reply: "Change your course. " Some forces are inevitable, and surely one of them is the pressure on governments to move toward competitive market systems over the next decade. The research being examined at this conference is fundamentally important because it moves the discussion of privatization beyond ideology and anecdote to analysis. " But I think that the kind of comparisons being made are important and striking nonetheless. For a set of countries with an abnormally high capacity to manage public enterprises in a set of sectors where the case for public enterprises is strongest, these studies nonetheless find The author is under secretary for international affairs, Department of the Treasury, the United States of America.
Does privatization deliver?: highlights from a World Bank conference, Page 93 by Ahmed Galal, Mary M. Shirley, World Bank